The cost of goods sold at N32,000. The gross profit is 25% on cost. Returns inward amounts to N2000. What is the value of sales? By: Sunday|Published on: Aug 19|Categories: Accounting WAEC| 0 comments A. N42,500 B. N40,500 C. N40,000 D. N38,000 E. N32,000 Correct Answer: Option C – N40,000 Users Also Read These:The excess of sales over cost of goods sold is?The difference between the cost of goods sold and the sales…The gross profit on manufactured goods is the difference…A business operates on a mark-up of 25%. If cost of goods…The gross profit on manufactured goods is the difference…SEE ALSO Which of the following expenses relates to the profit and loss account of a manufacturing firm?